By Clifford Okyere
An Associate Professor at the Department of Finance at the University of Ghana Business school, Professor Lord Mensah, has called on the Government to revise the entire Domestic Debt Exchange Programme to suit the Ghanaian economic structure.
Speaking on GTV’s Breakfast, the Professor noted that the only way the government can avoid issues with bondholders across board is to focus on restructuring the programme to suit investor expectations.
“We need to revise the entire scheme to contextualize to meet the Ghanaian structure.”
“Even if you’re restructuring or swapping the kind of bond the investor is holding for a new one, you shouldn’t deviate entirely from what the investor would be expecting,” he added.
Government is currently seeking individual bondholders to exchange their bonds for a new one at a deadline but the Ghana Individual Bondholders Forum (GIBF), a group of individual bondholders, has advised bondholders to reject and refrain from complying with the mandatory deadline imposed under the Domestic debt exchange programme.
The forum is also calling on individual indirect bondholders not to accept the Programme.
Earlier, Organised Labour pressured the government to rescind its decision to use their pension funds in the exchange programme.
